Tag Archive for ‘single-family’

New Home Sales Increase in October

New home sales rebounded in October despite higher mortgage rates, likely due to low existing home inventory and builders using incentives to attract buyers to the new home market. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in October at a 632,000 seasonally adjusted annual pace, which is… Read More ›

Townhouse Construction Market Share Rising

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the third quarter of 2022 single-family attached starts totaled 38,000, which is 12% higher than the third quarter of 2021. Over the last four quarters, townhouse construction starts totaled 152,000 units, 7% higher than the prior four quarter total (142,000). However, these… Read More ›

Flat Readings for Single-Family Built-for-Rent

Single-family built-for-rent construction leveled off during the third quarter of 2022 as the overall housing market slowed. This occurred after an exceptionally strong second quarter for rental housing production. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 16,000 single-family built-for-rent (SFBFR) starts during the third quarter of 2022…. Read More ›

Single-Family Housing Contraction Continues in October

Elevated mortgage rates, high construction costs for concrete and other building materials, and weakening demand stemming from deteriorating affordability conditions continue to act as a drag on single-family housing production. Overall housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in October, according to data from the U.S. Department of Housing and Urban Development and… Read More ›

Builder Confidence Declines for 11 Consecutive Months as Housing Weakness Continues

Elevated interest rates, stubbornly high building material costs and declining affordability conditions that are pushing more buyers to the sidelines continue to drag down builder sentiment. Builder confidence in the market for newly built single-family homes posted its 11th straight monthly decline in November, dropping five points to 33, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing… Read More ›

Single-Family Permits Decline in September 2022

Over the first nine months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 800,424. On a year-over-year (YoY) basis, this is 7.4% below the September 2021 level of 864,184. Year-to-date ending in September, single-family permits declined in all four regions. The South posted a modest decline of 5.4%, while the Midwest region reported the steepest… Read More ›

New Home Sales Fall Back in September

Rising mortgage rates approaching 7% along with declining builder sentiment stemming from stubbornly high construction costs and weakening consumer demand pushed new-home sales down at a double-digit rate in September. Following a brief uptick in August, sales of newly built, single-family homes in September fell 10.9% to a 603,000 seasonally adjusted annual rate, according to newly released data by the… Read More ›

Single-Family Production Continues to Weaken in September

Single-family housing starts declined further in September as high mortgage rates, ongoing building material production disruptions and flagging demand stemming from rising affordability challenges continue to put a damper on new home production. Overall housing starts decreased 8.1% to a seasonally adjusted annual rate of 1.44 million units in September, according to a report from the U.S. Department of Housing… Read More ›

Builder Confidence Down 10 Straight Months as Market Continues to Weaken

In a further signal that rising interest rates, building material bottlenecks and elevated home prices continue to weaken the housing market, builder sentiment fell for the 10th straight month in October and traffic of prospective buyers fell to its lowest level since 2012, with the exception of two months during the Spring of 2020. Builder confidence in the market for… Read More ›

Single-Family Permits Decline in August 2022

Over the first eight months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 728,866. On a year-over-year (YoY) basis, this is 6.0% below the August 2021 level of 775,772. Year-to-date ending in August, single-family permits declined in all four regions. The South posted a modest decline of 3.9%, while the Midwest region reported the steepest… Read More ›